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Financial Guaranty Insurance Company (FGIC), like a superhero, secured the city ... well, secured the city bonds, anyway until things got really tough. The company provided credit enhancement on public finance (including transportation, state and local leases, and municipal electric utility), structured finance (asset-backed securities including mortgage and consumer loans), and global infrastructure and utility securities. FGIC has historically guaranteed the scheduled payments of principal and interest on an issuer's obligation. Founded in 1983, the company is owned by a collection of investors including the Blackstone Group. FGIC is currently not issuing new policies or paying claims.